A look at some of the key business events and economic indicators upcoming this week:
DRINK THIS
Wall Street expects another solid quarterly report card from Coca-Cola.
Analysts predict the beverage company’s second-quarter earnings and revenue improved from a year earlier, when the pandemic broadsided the economy and much of Coca-Cola’s sales from restaurants, stadiums and other public places dried up. This year, the company’s sales have been steadily improving as vaccinations allow for the opening of restaurants and offices in the U.S. and other countries.
HOME SALES PICKUP?
Economists project that sales of previously occupied U.S. homes rose in June after a four-month pullback.
They predict the National Association of Realtors will report Thursday that the pace of sales increased to a seasonally adjusted rate of 5.90 million annualized units. Sales have been slowing as soaring prices and a limited number of available properties discourage many would-be buyers. Sales fell 0.9% in May from the previous month, but were up nearly 45% from a year earlier.
Existing home sales, in millions, seasonally adjusted annual rate:
Jan. 6.66
Feb. 6.24
March 6.01
April 5.85
May 5.80
June (est.) 5.90
Source: FactSet
CHARGED UP
American Express delivers its second-quarter results Friday.
The credit card issuer is expected to report that its earnings and revenue increased from a year earlier. That would follow a mixed report card for the first quarter, when profits rose sharply, but revenue fell as fewer customers used their credit cards and those with balances paid down debt. AmEx recently upped the benefits on its flagship Platinum card in a bid to hold on to customers as they ramp up spending again.
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